Enhancement of Pension Under EPS, 1995

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The Central Government constituted an Expert Committee for review of the Employees’ Pension Scheme, 1995. The Expert Committee considered the various demands of pensioners including enhancement of pension under the Employees’ Pension Scheme, 1995. The Expert Committee has submitted its report to the Central Government on 05.08.2010 and recommendations are presently under examination/consideration of the Central Board of Trustees of the Employees Provident Fund Organization.

This information was given by Shri Mallikarjun Kharge, Minister for Labour And Employment in a written reply to a question in the Rajya Sabha today.

Increase in Interest Rate on EPF

For the financial year 2010-2011, 9.5% rate of interest on EPF has been recommended by the Central Board of Trustees, Employees’ Provident Fund [CBT(EPF)] in the 190th meeting held on 15.09.2010 based on the funds available in the interest suspense account. The Ministry of Labour & Employment has forwarded the recommendation of CBT to the Ministry of Finance (Department of Financial Services) for approval.

This information was given by Shri Mallikarjun Kharge, Minister for Labour And Employment in a written reply to a question in the Rajya Sabha today.

Source: PIB

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EMPLOYEES NEWS, PENSION